By MarketsFarm
WINNIPEG, Sept. 25 (MarketsFarm) – The Canadian dollar was lower at market close on Wednesday as crude oil was down.
The loonie finished the day at US$0.7536 or US$1=C$1.3270, which compares with Tuesday’s close of US$0.7548 or C$1.3249.
Benchmark oil prices were weaker on Wednesday with larger than expected United States crude stockpiles. The Energy Information Administration reported inventories increased by 2.4 million barrels when market forecasts called for a decrease of 249,000 barrels.
Brent crude oil was down 70 cents to close at US$62.40 per barrel. West Texas Intermediate (WTI) crude oil was down 82 cents to close at US$56.49 per barrel. Western Canadian Select crude slipped 53 cents at US$43.76 per barrel.
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The TSX/S&P Composite Index lost 14.04 points on Tuesday to close at 16,784.29 due to declines in energy and materials stocks.
On a day that losses were expected, optimism towards upcoming U.S./China trade talks put U.S. markets in the green instead. The Dow Jones gained 163.69 to close at 26,971.46 points. The NASDAQ rose 83.75 to end at 8,077.38, while the S&P 500 was up 18.31 to wrap up at 2,984.91 points.
Gold fell US$28.60 on Tuesday to close at US$1,511.60 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 3.75
Linamar Corp. up $ 0.06 at $ 42.31
Maple Leaf Foods up $ 0.30 at $ 30.95
Nutrien Ltd. dn $ 0.26 at $ 65.55
Ritchie Bros Auctioneers Inc. dn $ 0.55 at $ 51.28
Rocky Mountain Dealerships Inc. up $ 0.01 at $ 7.03
(All figures are in Canadian dollars.)
